Having said that however, SLR remains a very profitable operation if you take the worst case scenario numbers from Mt Monger as reported in the March quarterly:
Mill production for March quarter....39,106 oz at AISC of $1032/oz.
Times 4 = 156,424 oz
Current price received = $1400/oz - $1032/oz or ~$368/oz.
$368 X 156,424oz pa = $57.5M profit or 11c/share.
Not too shabby for a minnow that's had nothing but negative news for 12 months and those figures don't take into account costs saved by placing Murchison and Lakewood on CM and the ramp-up in production from Mt Monger as promised by management. Hopefully, these changes will be reflected in the June quarterly and SLR might be re-rated by the market.
Maybe then will the persistent shorting be halted as at the moment it's a trader's toy.
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